Greenville Homeowners Insurance

Greenville homeowners insurance is a very good thing to have in Greenville. Because there are so many things that could potentially happen to your home that you would be held financially responsible for, having Greenville homeowners insurance will ensure that you will not be held responsible for the costs of fixing those damages. However, there is no one "blanket" Greenville homeowners insurance. In fact, there are several types of coverage that you will have to choose from when looking to insure your home. Each one of these different types of coverage offers protection against a very specific set of circumstances or potentially damaging instances that could throw you into deep debt. Understanding what these types of coverage are will help you decide which one of them is most fitting to your particular situation. In understanding the different North Carolina house coverage types, you will better be able to determine how much coverage you want for your home, but you will also be able to determine how much money you can spend on what amount of coverage.

Types of Homeowners Insurance

The most basic type of coverage that will cover only the most basic damage is known as HO-1 coverage. This is the type of coverage that will protect your home against damages that are incurred as a result of fire or lightning damage. If your home is struck by lightning and the electric is damaged as a result, this type of coverage will also cover the costs of the repairs. There is usually a relatively high deductable, causing this type of Greenville homeowners insurance to be only for the more serious damages that these elements will do to your home.

One type of coverage that is also considered "broad range" coverage is also known as HO-2 coverage for Greenville homeowners insurance. This is the type of coverage that has a high deductable, but covers a lot of different kinds of damage include ice damage, hail damage, theft, damage from vehicles, vandalism, fire or civil damage, among other things. This is the closest type of coverage that you can get that will cover most of everything. However, because it is so broad, the deductibles often have to be much higher. As a result, many people tend to not get this type of coverage unless they are willing to pay more per month to help the deductable go a little lower so that the Greenville homeowners insurance is more manageable.

A third basic home coverage type that you can get for your living situation is known as HO-3 coverage. This type is also known as special coverage because it is specifically tailored to cover all damages that could occur at your home that are not specifically mentioned in your other Greensville homeowners insurance policy in Greenville, North Carolina. Basically, this means that, if you have basic homeowners insurance, but a car runs into your home and you do not have HO-2 coverage, this type of coverage will clear those costs, at least to some extent. For this kind of policy, the deductibles are usually a little smaller because this type of coverage in Greenville, NC is not meant to take care of large expenses, necessarily.

An offshoot of HO-2 coverage is HO-4 homeowners insurance. This type of Greenville homeowners insurance is the type that covers additional expenses such as medical costs and liability protection if someone else is living in or renting your home. Basically, it is a type of land-lord homeowners insurance. Though it does not cover many types of damage that could actually damage the home itself in Greenville, NC, but it does protect your home from damages caused by tenants.

HO-6 coverage is the type of Greenville homeowners insurance in Greenville, NC that can be written into a policy to protect certain items in your home. If you have an item that is particularly expensive or valuable to you, you can add HO-6 coverage to make certain that item will be reimbursed for if it is damaged or destroyed in the event of a fire or situation that causes that item to be destroyed beyond repair.

Type Variations

Though there are many other types of homeowners insurance that you can purchase for your Greenville homeowners insurance, you will most likely have to purchase more than one type of coverage if you want to be certain that everything that you have invested in that home is covered in the event of a tragedy. Because of all of the different types of coverage that you can get for your home, you will need to make sure that you do a lot of comparison shopping before you decide firmly on which policy you want for your home. Policies will vary slightly from agent to agent in Greenville, North Carolina, so make sure that you are comfortable with the policy that you purchase.

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